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AstraZeneca Divests More of Seroquel
Piece by piece, AstraZeneca (NYSE: AZN) continues to divest the rights of Seroquel and Seroquel XR (Seroquel), a prescription drug for schizophrenia and bipolar, in various major markets. It used to be a big seller for the pharmaceutical giant over the years but has since declined considerably after the FDA approved a generic version of the drug in May 2017. In 2017, Seroquel recorded sales of $332 million, representing a year-over-year decline of 55%. As a result, AstraZeneca has found buyers to take the drug off their portfolio. However, it also gives AstraZeneca the opportunity to focus on its three main therapy areas of oncology, cardiovascular, renal & metabolism, and respiratory.... Read More »
Baxter International Adds Seprafilm
Baxter International Inc. (NYSE: BAX) is having a busy 2019. After acquiring Cheetah Medical in September for $190 million in cash, it announced last week it was taking Seprafilm off of Sanofi’s (NYSE: SNY) hands. Sanofi will get $350 million for the portfolio, which includes Seprafilm Adhesion Barrier and related assets. The product is indicated for use in patients undergoing abdominal or pelvic laparotomy as an adjunct intended to reduce adhesions between the abdominal wall and the underlying viscera. Seprafilm had global sales of $100 million in the past 12 months, including in markets such as the United States, Japan, China, South Korea and France. This acquisition builds... Read More »
Healthcare Investors’ Attention Was on Turkeys in November
Thanksgiving came very late in November this year, landing on the 28th. That cuts the December shopping season down to four weeks, but it extended the time frame for getting deals done. With a preliminary total of 126 transactions for the month, it doesn’t feel as if anyone was in a rush to close their transactions. November’s deal volume was 14% lower than the previous month, which now totals 146 transactions. Compared with the roaring 165 deals announced in November 2018, the monthly total is down by 24%. Yes, more deals will pop up on the radar, as they were last month. We started with a total of 136 then and discovered 10 more. That’s how it goes, but 10 more deals here won’t move the... Read More »2020 Outlook and Opportunities
Here’s a prediction: Healthcare M&A will remain strong in 2020, at least until the November presidential election. Unless a recession hits before then. All of the analysts, lawyers and investment bankers we’ve spoken to in recent months agree on that scenario. Everyone is seeing robust deal flow and/or pipelines but knows the uncertainties that are sure to play out through the Democratic presidential primaries and into the general election could adversely affect this market. Their predictions are based on what has become status quo in the financial world. Low inflation, low cost of capital and a lot of money sitting in private funds on the sidelines, just waiting to get into the game.... Read More »
Health Care M&A Deals, Week Ending December 6, 2019
The Health Care M&A Weekly chart is a selection of transactions announced during the prior week(s). The deals presented here are from our Deal Search Online database, which is updated every business day. Visit www.dealsearchonline.com to see how Deal Search Online can help you stay up-to-date on the healthcare market overall, or in a particular sector of interest to your firm. Biotechnology Acquirer Target Price Baker Bros. Advisors LP Royalties on KSI-301 $225,000,000 Astellas Pharma Inc. Audentes Therapeutics, Inc. $3,000,000,000 eHealth Acquirer Target Price Oasis Group Niche Health N/A Waystar Recondo Technology N/A Dedalus Group Agfa-Gevaert’s... Read More »
Big Pharma Is Back in the Headlines
It looks like some big pharma companies want to get their holiday shopping done early this year. Two transactions with values north of $1 billion were announced in late November, stimulating a sector that’s been relatively quiet the past few months. The first might not come as a surprise since it’s been circling the rumor mill for some time. Novartis AG (NYSE: NVS) announced the acquisition of The Medicines Company (NASDAQ: MDCO) for $9.7 billion, or $85 per share. The deal value is comprised of a 24% premium over MDCO’s November 22, 2019 closing price of $68.55, as well as the company’s outstanding stock options and convertible debt. MDCO is focused on treating... Read More »
Accent Acquired by HMS Holdings Corp.
After making a string of digital health deals over the past few years, HMS Holdings Corp. (NASDAQ: HMSY) has now expanded into the managed care sector. In the last week of November, the company announced its acquisition of Accent from Intrado Corporation for $155 million. The target company is a payment accuracy and cost containment business. Accent’s healthcare payer clients include large commercial health plans, Blue Cross and Blue Shield plans, provider-sponsored health plans, Medicare Advantage plans, third-party administrators and self-insured employer groups. Its offerings include comprehensive prospective and retrospective claims accuracy solutions, which incorporate cost avoidance... Read More »
Health Care M&A Deals, Week Ending November 29, 2019
The Health Care M&A Weekly chart is a selection of transactions announced during the prior week(s). The deals presented here are from our Deal Search Online database, which is updated every business day. Visit www.dealsearchonline.com to see how Deal Search Online can help you stay up-to-date on the healthcare market overall, or in a particular sector of interest to your firm. Biotechnology Acquirer Target Price Enochian Biosciences Inc. License for hepatitis B virus treatment N/A JanOne Inc. Exclusive license for TV1001SR N/A Home Health Care & Hospice Acquirer Target Price AMEDISYS, INC. Asana Hospice... Read More »
DFW Home Health Adds Fourth Home Health Agency
DFW Home Health, a Dallas-based home health provider jointly owned by LHC Group (NASDAQ: LHCG), Texas Health Resources and Methodist Health System, acquired Healthcare Resources, a home health provider serving patients and families in Arlington, Texas. Healthcare Resources offers skilled nursing, physical therapy, occupational therapy, speech therapy, medical social services, home health aides and other specialty services. Its name will be changed to DFW Home Health Arlington. This deal marks the expansion of DFW Home Health’s footprint to four locations across the Dallas-Fort Worth MSA, including in Dallas, Fort Worth and Denton, Texas. DFW provides in-home healthcare services for 25... Read More »Schedule a demo
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